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Lorge Corporation has collected the following information after its first year of sales. Sales were $1,982,400 on 123,900 units; selling expenses $297,360 (40% variable and 60% fixed); direct materials $633,129; direct labor $353,115; administrative expenses $346,920 (20% variable and 80% fixed); manufacturing overhead $446,040 (70% variable and 30% fixed). Top management has asked you to do a CVP analysis so that it can make plans for the coming year. It has projected that unit sales will increase by 10% next year.
Compute (1) the contribution margin for the current year and the projected year, and (2) the fixed costs for the current year. (Assume that fixed costs will remain the same in the projected year.
in year 1 joe josephs cpa reviewed lander companys financial statements. however in year 2 the lander company hired
the big partnership has decided to liquidate at december 31 20x8. the capital and loan balances of the partners at
in its first month of operations giffin company made three purchases of merchandise in the following sequence 1 300
record in good journal entry format the following transactions1. april 10 300 units of raw materials were purchased at
Michael owns stock in an S corporation. The corporation sustained a net operating loss this year. Michael's pro rata share of the loss is $5,000.
If he sells the pubs abd then leases them back would you expect Lion Nathan to change how it accounts for the depreciation of he building?
calculating the predetermined overhead rate applying overhead to production reconciling overhead at the end of the year
Payroll data for the current week are as follows: hours worked, 46 federal income tax withheld, $350; cumulative earnings for year prior to current week, $99,700; social security tax rate, 6.0% on maximum of $100,000; and Medicare tax rate, 1.5% o..
the adjusted trial balance prepared decembers 31 for cheryl fontaine amp company shipping agent containds the following
the depreciation expense will appear in which of the following worksheet statement columns? a the income statement
the term tax shield refers to the amount of income tax saved by deducting depreciation for income tax purposes. assume
yengling companys payroll for the year is 593150. of this amount 211630 is for wages paid in excess of 7000 to each
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